SPECIAL HOLIDAYS AND PENSION. Employees who on 1 September are entitled to special holidays may, each year in May, by written notice to the company, choose to convert one or more of the days of special holiday in the coming holiday year into a deposit to the Free-Choice Account instead of taking them. A day of special holiday can be converted to 0.5% of the wages qualifying for holiday pay. If all 5 days of special holiday are converted to contributions to the Free-Choice Account, 2.5% will thus be contrib- uted on an ongoing basis in the holiday year. All savings in the Free-Choice Account include holiday allowance and holiday supplement for the deposit, even though they are paid as wages. Each year in May, employees who, according to the rules of the collective agree- ment, are entitled to labour market pension at the time the choice is made may notify that all or part of the savings to the Free-Choice Account should be paid into the pension scheme in the following holiday year (1 September - 31 August). The company can set minimum monthly pension contribution limits of DKK 75 per month. If the amount per month is less than this minimum contribution, the company can decide to combine the contributions for 2 months. The deposit of additional pension contributions does not trigger employer con- tribution on that deposit.
SPECIAL HOLIDAYS AND PENSION. Transitional scheme Employees who as at 1 May 2020 are entitled to special holidays, may choose, no later than 1 June 2020 by contacting the enterprise in writing that one or more of the special holidays in the period from 1 May 2020 to 31 August 2021 should be converted into payments into the free-choice account instead of taking the special holidays. For special holidays awarded for the period from 1 May 2020 to 31 August 2021, a total of 6.67 special holidays, it applies that a special holiday can be converted into 0.375 per cent of the pay qualifying for holiday with pay in the period from 1 May 2020 to 31 August 2021. If all 6.67 special holidays are converted into payment into the free-choice account, thus 2.5 per cent is paid on an ongoing basis in the period from 1 May 2020 to 31 August 2021. The above section on a transitional scheme is deleted as at 1 September 2020 and replaced by the following section: Employees who as at 1 September 2021 are entitled to special holidays, may choose, in May each year (for the first time in 2019) by contacting the enterprise in writing that one or more of the special holidays for the coming holiday year should be converted into payments into the free-choice account instead of taking the special holidays. A special holiday may be converted into 0.5 per cent of the pay qualifying fo r holiday with pay. If all five special holidays are converted into payment into the free-choice account, thus 2.5 per cent is paid on an ongoing basis in the holiday year. All savings deposits placed in the free-choice account contain holiday pay and also holiday allowance from the deposit even if it is paid as wages. Employees who under the rules of the collective agreement are entitled to labour market pension when making their decision, may each year in May (for the first time in 2021) may give notification that the entire or part of the savings in the free-choice account should be paid to the pension scheme in the coming holiday year (1 September to 31 August). In 2020, the choice is made no earlier than 1 June and applies to the period from 1 May 2020 to 31 August 2021. The enterprise may set minimum limits for the deposit of monthly pension contributions of DKK 75.If the amount per month is less than this minimum contribution, the enterprise may decide to combine the contributions for two months. The deposit of extra pension contributions does not trigger an employer’s contribution for the deposit.
SPECIAL HOLIDAYS AND PENSION. Transitional scheme Employees who as at 1 May 2020 are entitled to special holidays, may choose, no later than 1 June 2020 by contacting the enterprise in writing that one or more of the special holidays in the period from 1 May 2020 to 31 August 2021 should be converted into payments into the free-choice account instead of taking the special holidays. For special holidays awarded for the period from 1 May 2020 to 31 August 2021, a total of
